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This analysis uses Suburbs and Localities (SAL) boundaries, which can materially differ from Statistical Areas (SA2) even when sharing the same name.
SAL boundaries are defined by Australia Post and the Australian Bureau of Statistics to represent commonly-known suburb names used in postal addresses.
Statistical Areas (SA2) are designed for census data collection and may combine multiple suburbs or use different geographic boundaries. For comprehensive analysis, consider reviewing both boundary types if available.
est. as @ -- *
2021 Census | -- people
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Banks has an estimated 5,043 residents, down from 5,100 at the 2021 Census — a change of 57 people, or 1.1%. That puts 2,241 residents on each square kilometre. Population is estimated from ABS Estimated Resident Population releases and GNAF address data, re-based from the 2021 Census and updated annually.
Detail
As of Aug 2026, demographic analysis from AreaSearch combining regional ABS updates and verified new residential addresses places the population of the suburb of Banks at approximately 5,043. This represents a contraction of 57 people (1.1%) from the 5,100 people recorded at the 2021 Census. The updated figure builds on an estimated resident population of 5,038 determined from the June 2025 ABS ERP release, alongside 3 validated new addresses added after the census. Population density stands at 2,241 persons per square kilometer, outpacing the national benchmark across locations evaluated by AreaSearch.
In contrast to the 1.1% decline observed in the suburb of Banks since census, the surrounding SA3 recorded an increase of 1.4%, underscoring contrasting trajectory paths. Recent demographic gains were overwhelmingly anchored by natural growth, which accounted for roughly 82.0% of total additions. Projections for the suburb of Banks incorporate ABS/Geoscience Australia SA2 modeling published in 2024 with a 2022 baseline, supplemented for uncovered localities and horizons beyond 2032 by ACT Government SA2 age-specific projections based in 2022. Under this framework, the suburb of Banks is anticipated to experience demographic contraction, reducing by 255 persons by 2041. Even so, select demographics will see expansion, particularly the 65 to 74 age bracket, which is slated to add 57 people. <i>See the age section for more details.</i>
Frequently Asked Questions - Population
Detail
According to ABS residential building approvals compiled by AreaSearch for the local statistical area, the suburb of Banks has seen approximately 1 home approval per annum, totaling roughly 6 homes across the prior 5 financial years. In FY-25 to date, 1 approvals have been authorized. Between FY-21 and FY-25, the area averaged an influx of 5.2 people per year for every completed residence, creating a dynamic where demand substantially outpaces building supply, applying upward pressure on residential valuations and intensifying purchaser competition. Concurrently, newly approved dwellings show an average expected construction cost of $427,000, moderately higher than broader regional benchmarks and reflecting a focus on premium builds.
Residential construction in the suburb of Banks is 89.0% below regional average per person compared to Australian Capital Territory overall. This restricted supply pipeline tends to elevate competition and support prices across established dwellings, notwithstanding a recent uptick in building approvals. Development intensity also trails national rates, pointing to an established urban footprint with potential planning constraints. Furthermore, all recent approvals have consisted exclusively of separate houses, preserving the traditional low-density suburban landscape oriented around spacious family residences. This emphasis exceeds existing housing composition (79.0% at Census), underscoring enduring demand for detached homes, while an average ratio of around 5022 people per approval illustrates a mature residential market. With demographic forecasts indicating stable to declining numbers, easing pressure on local housing could foster advantageous market conditions for incoming property purchasers.
Frequently Asked Questions - Development
Development applications around Banks
Loading development applications…
| Lodged | Address | Description | Type | Distance | Status |
|---|
SOURCE: Planning portals and council registers, compiled by AreaSearch. Distance & bearing measured from the suburb midpoint.
AreaSearch tracks 18 current infrastructure and development projects close to Banks, worth an estimated $2.56 billion. 2 are already under construction and 4 are due for completion within three years. The pipeline spans residential development, communities, precincts & urban renewal and health & medical. Records are compiled from Infrastructure Australia, state agencies, council planning portals and public announcements, reviewed and updated daily, then ranked by proximity, construction stage, completion horizon and project scale.
Detail
Local infrastructure programs, major developments, and strategic planning initiatives play a decisive role in shaping community outcomes. At present, AreaSearch has identified no major projects anticipated to directly influence the immediate locality, with relevant surrounding works featuring Southquay Greenway Stage 2 - Block 1 Section 80 Public Housing, Lanyon Marketplace Improvements, Monaro Highway Safety Upgrades, and the Big Canberra Battery (Williamsdale BESS).
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Denotes AI-based impression for illustrative purposes only, not to be taken as definitive under any circumstances. Please follow links and conduct other investigations from the project's source for actual imagery. Developers and project owners wishing us to use original imagery please Contact Us and we will do so.
Frequently Asked Questions - Infrastructure
Banks Gateway Estate
New residential subdivision by the Suburban Land Agency delivering approximately 220 new homes in Banks, directly adjacent to northern Gordon and within the same primary school catchment. The project is focused on creating a thriving local community.
Tuggeranong Multi-Unit Development - Gordon
Multiple 24-unit developments and supportive housing projects including six single storey supportive housing dwellings with carports, and childcare centre construction for 90 places.
Lanyon Marketplace Improvements
Public space improvements completed in late 2023 at Lanyon Marketplace in Conder. The project, led by the ACT Government, included new seating and landscaping, improved pedestrian access (paths, pram ramps, safe crossings), a new raised intersection at Balcombe and Sidney Nolan Streets, and additional parking spaces on Sidney Nolan Street. The original record's mention of new Coles/Aldi/specialty stores appears to refer to an expected private sector expansion/refurbishment or is based on speculation, as the public works completed focused on the community space and access, with the Marketplace being anchored by Woolworths and 18 specialty shops.There is an ALDI store located at 9 Sidney Nolan Street nearby.
Calwell Retirement Living Precinct
A retirement living precinct proposal by KBDC, featuring 30 one-storey townhouses alongside the Calwell shopping strip.
Calwell Group Centre improvements
Public space upgrades at local shops including new seating, playground with nature play elements, accessible parking bays, improved pedestrian access, upgraded lighting, and enhanced landscaping. Features nest swing, trampolines, slide, steppers and new shade sail.
Calwell Public Housing Development
30 new public housing townhouses (2 and 3 bedroom) built to Class C Adaptable standards. Features evaporative heating/cooling, 6-star energy rating hot water systems, double-glazed windows, and sustainable design.
EV Fast Charging Infrastructure - Calwell (Calwell Shopping Centre)
Public DC fast EV charging delivered at Calwell Shopping Centre and operated by Evie Networks, supported by ACT Government grants and ARENA funding to expand Canberra's charging network.
Tuggeranong Public Housing Development
Major public housing development in Tuggeranong providing affordable housing options for low-income families and individuals. Includes multiple apartment complexes and townhouses with community facilities and support services.
3,020 residents of Banks are employed, from a labour force of 3,166. Unemployment sits at 4.6%, with participation at 78.2%. Weighted for its industry mix, the area's sectors are forecast to grow about 6.1% nationally over five years. That reflects industry composition only and makes no allowance for local population growth. The working-day population is estimated at 3,544, about 70% of the resident population, so more people leave the area for work than travel in. Unemployment and labour force come from ABS Small Area Labour Markets, updated quarterly; the industry and occupation profile is from the 2021 Census.
Detail
Banks features a skilled workforce, with essential services sectors well represented, an unemployment rate of 4.6%, and relative employment stability over the past year, based on AreaSearch aggregation of statistical area data. As of March 2026, 3,020 residents are in work while the unemployment rate is 0.6% above Australian Capital Territory's rate of 4.1%, and workforce participation is well beyond standard (78.2% compared to Australian Capital Territory's 70.6%). Based on Census responses, a low 8.0% of residents were found to work from home, though Covid-19 lockdown impacts should be considered.
Locally resident workers are predominantly engaged in public administration & safety, health care & social assistance, alongside construction. The workforce shows distinctive specialization in construction, where local concentration reaches 1.5 times the regional proportion. By contrast, professional & technical roles account for only 6.4% of employed residents, falling behind the 11.1% recorded for Australian Capital Territory. Comparing local resident workers against the daytime Census working population indicates that the neighbourhood functions largely as a residential enclave with few immediate employment opportunities. ABS and SALM metrics compiled by AreaSearch show that over the trailing 12-month period, local employment expanded by 0.4% against a labour force expansion of 1.1%, shifting the unemployment rate upward by 0.6 percentage points. Across Australian Capital Territory, employment increased by 0.3% while the labour force expanded by 1.1%, leading to an unemployment increase of 0.7 percentage points. Looking ahead, national projections from Jobs and Skills Australia as of Mar-26 provide context for future workforce requirements. While national employment is modeled to rise 6.6% over five years and 13.7% over ten years, industry performance varies widely. Weighting these sectoral forecasts against the area's existing job distribution suggests local employment growth of 6.1% over five years and 12.6% over ten years (note that this weighting extrapolation serves illustrative purposes and excludes localized demographic forecasts).
Frequently Asked Questions - Employment
Median household income in Banks is $2,419 a week (about $126,000 a year), with median personal income at $1,168 a week. ATO records put median taxable income at $68,593 a year against an average of $75,485. Household income is from the 2021 Census; taxable income is from ATO Taxation Statistics for the latest financial year available, indexed forward using the ABS Wage Price Index.
Detail
ATO postcode records for financial year 2023 compiled by AreaSearch indicate that the suburb of Banks generates income levels well above the Australian benchmark, showing a median assessed income of $68,593 and an average of $75,485. Across Australian Capital Territory, the corresponding figures reach a median of $72,206 and an average of $85,981. Factoring in Wage Price Index growth of 10.44% since financial year 2023, indexed values for March 2026 stand at approximately $75,754 for median income and $83,366 for average income. In the 2021 Census, individual, household, and family earnings all placed between the 88th and 89th percentiles nationwide.
The $1,500 - 2,999 weekly bracket forms the largest cohort at 37.0% (1,865 people), closely tracking the 34.3% regional benchmark. Meanwhile, 37.0% of earners receive more than $3,000 per week, reflecting significant spending capacity. Housing costs consume 14.6% of income, placing local disposable earnings in the 88th percentile and positioning the neighbourhood in the 6th decile on the SEIFA income index.
Frequently Asked Questions - Income
Banks had 1,772 occupied dwellings at the 2021 Census, 79% detached houses and 4% apartments. 60% are owned with a mortgage, 18% rented and 22% owned outright. At that Census the median rent was $424 a week and the median mortgage repayment $2,000 a month, a total housing cost higher than 83% of areas nationally. Rent absorbs 17.5% of household income here and mortgage repayments 19.1%. Dwelling stock, tenure and housing costs are 2021 Census measures — the only source that counts dwellings at this boundary size.
Detail
At the most recent Census, the residential landscape was made up of 79.1% houses alongside 21.0% other dwellings such as apartments, semi-detached properties, and alternate residential types, compared with 63.3% houses and 36.7% other dwellings across Australian Capital Territory. Outright home ownership stood at 21.9%, trailing the broader territory, with 60.0% of properties held under a mortgage and 18.1% rented. Median monthly mortgage commitments were $2,000, below the territory benchmark of $2,080, while median weekly rent was $424 compared to $450 across Australian Capital Territory. On a national basis, mortgage payments exceed the Australian average of $1,863 and weekly rents sit well above the nationwide benchmark of $375.
Frequently Asked Questions - Housing
Banks counted 1,772 households at the 2021 Census, averaging 2.8 people each. 41% are couples with children, more than in 81% of areas nationally, against 23% couples without children. 20% of households are people living alone, and families average 1.6 children. Household and family composition is measured only by the Census, so these are 2021 figures.
Detail
Families constitute 78.8% of local households, comprising couples with children at 41.0%, couples without children at 23.4%, and single parent arrangements at 14.1%. Non-family dwellings make up the remaining 21.2%, divided between lone person residences at 19.8% and group households at 1.4%. The median household size is 2.8 people, higher than the Australian Capital Territory standard of 2.5.
Frequently Asked Questions - Households
22.9% of adults in Banks hold a university qualification, including 15.3% with a bachelor degree and 4.5% with postgraduate qualifications, higher than 99% of areas nationally. A further 26.5% hold a vocational qualification. Qualifications come from the 2021 Census.
Detail
Higher education qualifications present a distinct gap, with 22.9% of residents holding a tertiary degree compared to 46.8% across the SA4 region. Among degree holders, bachelor qualifications represent 15.3%, postgraduate awards account for 4.5%, and graduate diplomas stand at 3.1%. Technical and vocational attainment is widespread, with 38.8% of residents aged 15+ possessing vocational credentials, including 12.3% with advanced diplomas and 26.5% holding certificates. Formal study engagement is substantial, with 30.5% of the local population actively participating in education. This proportion comprises 10.8% attending primary school, 8.8% in secondary schooling, and 3.6% enrolled in tertiary institutions.
Frequently Asked Questions - Education
Schools Detail
Public transport in Banks reaches 25 stops on 55 routes, timetabled for about 3,600 services a week. The typical home sits about 160 m from its nearest stop. Buses carry the largest share of public transport commuters. Households keep an average of 1.8 vehicles. Stop and service counts are built from operators' published GTFS timetables and refresh with each timetable release; vehicle ownership is from the 2021 Census.
Detail
Local public transit network analysis indicates 25 active stops positioned throughout the suburb of Banks, serving various bus connections across 55 individual routes that generate 3,557 weekly passenger trips. Transit access is very convenient, with households situated an average of 155 meters from their closest boarding point. Given its residential orientation, outward commuting prevails, with private car travel representing 93% of journeys. Vehicle availability averages 1.8 per dwelling, exceeding regional norms, while working from home accounted for 8.0% of workers during the 2021 Census under pandemic-related conditions. Transit service density across all available lines reaches 508 trips per day, translating to an average of roughly 142 weekly trips per individual stop.
Frequently Asked Questions - Transport
Transport Stops Detail
68.7% of residents in Banks report no long-term health condition. 4.5% need daily assistance with core activities, and 57.0% hold private health cover. The standardised death rate runs at 5.8 per 1,000 residents. Health conditions, assistance needs and insurance are 2021 Census measures; the death rate comes from current ABS releases.
Detail
Health metrics evaluated by AreaSearch indicate notable health challenges, marked by elevated mortality rates and chronic illnesses across both younger and older residents. Private health insurance uptake is high, covering approximately 57% of the total population (~2,875 people), compared with 62.4% across Australian Capital Territory. The most widely diagnosed conditions among residents are mental health issues at 10.3% and asthma at 8.7%, while 68.7% reported no long-term medical conditions, compared to 70.2% across Australian Capital Territory. Chronic conditions remain prevalent among working-age individuals. Seniors aged 65 and over account for 11.3% of the community (569 people), below the 14.2% figure for Australian Capital Territory, with elderly health measures aligning generally with broader national standings.
Frequently Asked Questions - Health
Banks is largely Australian-born, at 81.4% of residents, with 15.3% speaking a language other than English at home. The largest reported ancestries are Australian (28.0%) and English (26.1%). Ancestry, language and country of birth are counted only by the Census, so these are 2021 figures.
Detail
The suburb of Banks exhibits above-average cultural diversity, with 18.6% of residents born abroad and 15.3% communicating in a language other than English at home. Christianity is the predominant religious faith, practiced by 45.9% of the population. Judaism represents a noticeable local overrepresentation at 0.2% of residents, identical to the 0.2% observed across Australian Capital Territory. Looking at parental country of birth, the primary ancestries are Australian at 28.0% (surpassing the 23.0% regional rate), English at 26.1%, and Other at 9.6%. Additional specific heritages show elevated local representation: Spanish background accounts for 1.1% (compared to 0.5% regionally), Polish background constitutes 1.1% (against 0.8%), and Hungarian background makes up 0.4% (versus 0.3%).
Frequently Asked Questions - Diversity
The median resident of Banks is 35, younger than 76% of areas nationally. 27.5% of residents are aged 15 to 34. Age cohorts are not raw Census counts: the Census split is re-based to the latest ABS population estimates and state projections.
Detail
The age distribution in the suburb of Banks closely aligns with the Australian Capital Territory profile, showing a maximum variance of 4.8 percentage points across the four main age brackets. The estimated median age is 35, matching both the 2021 Census finding for the area and the territory-wide median of 35 from that same period. The most prominent change since the census appears in the retiree and elderly cohorts (65+), which grew from 8.4% to an estimated 11.3%. Projections to 2041 indicate this senior cohort will experience the highest absolute increase, adding 110 residents (19%) to reach 680, whereas young to middle-aged adults alongside children and young adults are forecast to decrease.
Frequently Asked Questions - Age
Data & MethodBoundaries, Sources & Method for Banks
9 of 14 data sections on this page were updated within the last 12 months — the newest current to Oct 2026.
Everything is aggregated to the Suburb (SAL) boundary shown above, on a 2021 Census baseline. Only 3 sections — housing, households and cultural diversity — still wait on the 2026 Census.
The ledger — source, cycle and currency by section
| Section | Source & update cycle | Currency |
|---|---|---|
| Updated within the last 12 months 9 sections | ||
| Population | ABS, GNAF, Geoscience Australia Annual (ABS ERP) | Aug 2026 2 months ago headline measures · 2021 Census baseline |
| Re-based to the ABS Estimated Resident Population (June 2025 release) and updated with new dwellings from GNAF address data. Current to Aug 2026, with the 2021 Census supplying the small-area baseline. | ||
| Age profile | ABS, Geoscience Australia, State governments Annual | Aug 2026 2 months ago headline measures · 2021 Census baseline |
| Age cohorts are re-based to the latest ABS population estimates and state projections, current to Aug 2026. Each cohort is held as a Census baseline and a current estimate. | ||
| Development & approvals | ABS, GNAF Monthly (ABS approvals) | Aug 2026 2 months ago headline measures · Jul 2026 baseline |
| Property sales & rents | Valuer General, Rental Board, ABS Weekly sales, quarterly rents | Oct 2026 this month headline measures · Sep 2026 baseline |
| Sales from the state Valuer General register, refreshed weekly, and rents from quarterly rental bond lodgements. Both are read live each time this page loads, current to Oct 2026. | ||
| Infrastructure projects | Infrastructure Australia, Local governments Daily | May 2026 5 months ago all 2 projects tracked here |
| Project pipeline maintained continuously from Infrastructure Australia, state agencies, local government and public announcements. Records are added and revised daily; this area was last updated May 2026. | ||
| Employment | ABS, DEWR, JSA Quarterly (ABS SALM) | Mar 2026 7 months ago headline measures · 2021 Census baseline |
| Unemployment and labour force from ABS Small Area Labour Markets, current to Mar 2026. The growth outlook applies Department of Employment (now Jobs and Skills Australia) forecasts for all 19 industry divisions to the local industry mix, so it measures sector composition rather than local expansion and makes no allowance for population growth. Job demand comes from the same agency via its Internet Vacancy Index; industry and occupation structure from the 2021 Census. | ||
| Education | ABS, ACARA Annual (ACARA) | Sep 2026 last month headline measures · 2021 Census baseline |
| Transport | ABS, State Transport Departments Each timetable release | Jul 2026 3 months ago headline measures · 2021 Census baseline |
| Services & amenities | Provider directories, ACECQA Continuous | Sep 2026 last month all 14 measures |
| Annual and financial-year sources 2 sections | ||
| Income | ABS, ATO Annual (ATO) | FY 2023 3 years ago headline measures · 2021 Census baseline |
| ATO taxable income statistics for FY 2023, indexed forward using the Wage Price Index. Census household income provides the distribution detail. | ||
| Health | ABS, ATO Annual | 2024 2 years ago headline measures · 2021 Census baseline |
| Census-measured — next update: 2026 Census 3 sections No more current small-area source exists for these, so they are labelled as Census-measured rather than implied to be current. | ||
| Housing | ABS 5-yearly (Census) | 2021 Census next update 2026 all 30 measures |
| Households | ABS 5-yearly (Census) | 2021 Census next update 2026 all 18 measures |
| Cultural diversity | ABS, Geoscience Australia 5-yearly (Census) | 2021 Census next update 2026 all 44 measures |
"Currency" is the most recent release feeding that section. Where the Census supplies the structural baseline underneath a current headline figure, the row says so.
How the numbers are built
Population
The Census provides the small-area baseline, aggregated from mesh blocks to this boundary. It is then re-based to the ABS Estimated Resident Population (June 2025 release), and new dwellings built since Census night are counted from address data — 3 validated new addresses here. The headline figure is therefore a current estimate for Aug 2026, not a 2021 count (5,100 at the 2021 Census → 5,043 now). Annual growth rates are compound (CAGR), not simple averages.
Age profile
Cohort shares are not raw Census counts. Every cohort is held as a pair — the Census baseline and a current estimate — and the split is re-based using ERP and state population projections, current to Aug 2026. Median age is the Census median plus modelled change since. Charts that show both are labelled "2021 Census vs Current Estimate".
Property sales
Sourced from the state valuation authority's sales register — current, not Census, and refreshed weekly. Medians are calculated from settled transactions in the period shown; periods with very low transaction counts are flagged or suppressed, because a handful of sales can move a median substantially.
Rents
Derived from state rental bond lodgement data, by dwelling type and bedroom count. Bonds are lodged at the start of a new tenancy, so this reflects new lettings, not the whole rented stock.
Development & infrastructure
Building approvals come from current ABS releases; development applications are collected from council and state planning portals; the infrastructure pipeline is compiled from Infrastructure Australia and local government sources. Applications are matched to this boundary by address or coordinates, so very recent lodgements may not yet appear.
Employment & income
Industry and occupation structure comes from the Census, but the headline labour-market indicators do not. Unemployment and labour force are derived from ABS Small Area Labour Markets (quarterly). The employment outlook applies Department of Employment forecasts for all 19 industry divisions to this area's own industry mix (the agency is now Jobs and Skills Australia), as does the Internet Vacancy Index used for job demand. Because it is weighted on industry composition alone, that outlook carries no allowance for local population growth — in fast-growing areas the real rise in local jobs will typically be higher. Income combines Census household income with ATO taxable-income statistics for FY 2023, indexed forward using the Wage Price Index.
Education, transport & amenities
School enrolments, ICSEA and performance come from ACARA's current release, not the Census. Public transport stops and service frequency are derived from GTFS timetable feeds published by state transport departments. Services and amenities are proximity and count scores built from provider directories, refreshed on their own cycle. The Census contributes only the travel-to-work and qualification measures.
Rankings and benchmarks. Where we rank this area, the comparison set is every area of the same boundary type — suburbs against suburbs, SA2s against SA2s. Benchmarks compare this area against its greater capital city region and the national figure for the same measure and period.
Limits worth knowing. Small areas carry larger error margins, and the ABS introduces small random adjustments to Census counts to protect confidentiality — so totals may not sum exactly. Estimates re-based from regional data describe the area's expected trajectory, not a direct count of it. Figures are indicative for research and are not financial, planning or valuation advice.
Cross-check us. The Census baseline for this boundary is at ABS 2021 Census QuickStats (SAL80021). QuickStats reports 2021 only — the figures on this page are more current wherever the ledger shows a later date.